Veteran Affairs (VA)
VA loans are available only to eligible veterans. They offer a significant advantage: no out-of-pocket expenses may be required. Interest rates and points are negotiated and paid up-front.
With a VA loan, you won't have to make a down payment. It provides more flexible qualification guidelines than FHA or conventional loans and there is no monthly insurance requirement. And, your out-of-pocket expenses can come from a gift. It is available in fixed-rate loans only.
Choose a VA loan if you:
- Are a qualified veteran, reservist, active serviceperson or the spouse of one of these (check with your regional VA office to see if you are eligible)
- Have limited funds for down payment and closing costs
|
